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Jim and Martha are married taxpayers with $400,00 of adjusted gross income in 2015.They are allowed two personal exemptions.What is the amount of each of

Jim and Martha are married taxpayers with $400,00 of adjusted gross income in 2015.They are allowed two personal exemptions.What is the amount of each of their $4,000 exemption deduction after applying the phase-out for high-income taxpayers?(Show work)

a.$0

b.$780

c.$1,040

d.$3,002

e.$4,000

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